New-Car Demand on the Rise
For the first time this year, new-vehicle demand rose in May, up nearly 6% year-over-year, according to CarGurus’ Intelligence Report.
New-vehicle days on market was down nearly 4% year-over-year, Stellantis and Ford driving the decline.
Pexels/Daniel Andraski
Despite new- and used-vehicle prices continuing to rise, consumer demand held steady in May, according to CarGurus.
The average used-vehicle listing price topped $30,000 for the first time since August 2023, coming in 5% higher than May of last year.
Used-vehicle demand rose 3% year-over-year for franchised and independent dealers combined. About a third of the demand was made up of vehicles ages 8 and older, but the share of vehicles ages 1 and younger rose 23% to almost 13%.
Days on market rose month-over-month, inventory skewing toward newer model years.
The new-vehicle market told much the same story, the average listing price hitting its highest level since September 2023 at $50,700.
New-vehicle demand nevertheless rose above 2025 levels for the first time this year, up nearly 6% year-over-year. Days on market fell nearly 4%, Stellantis and Ford driving the decline.
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